Axxcess Wealth Management LLC Has $626,000 Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Axxcess Wealth Management LLC increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,567 shares of the company’s stock after acquiring an additional 2,142 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Alkermes were worth $626,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Alkermes by 6.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,830 shares of the company’s stock valued at $219,000 after buying an additional 452 shares during the period. Victory Capital Management Inc. lifted its stake in Alkermes by 0.6% in the third quarter. Victory Capital Management Inc. now owns 76,043 shares of the company’s stock valued at $2,130,000 after buying an additional 481 shares during the period. Alps Advisors Inc. increased its holdings in shares of Alkermes by 0.4% in the third quarter. Alps Advisors Inc. now owns 122,916 shares of the company’s stock worth $3,443,000 after acquiring an additional 529 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Alkermes by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 59,942 shares of the company’s stock worth $1,663,000 after acquiring an additional 572 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Alkermes by 0.4% in the third quarter. New York State Common Retirement Fund now owns 143,223 shares of the company’s stock worth $4,012,000 after acquiring an additional 605 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 10,417 shares of Alkermes stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the sale, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.76% of the stock is currently owned by insiders.

Alkermes Stock Up 2.0 %

Alkermes stock opened at $24.59 on Wednesday. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $33.71. The stock has a market cap of $4.16 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.64 and a beta of 0.61. The company’s 50-day moving average price is $26.50 and its two-hundred day moving average price is $26.70. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). The firm had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. As a group, analysts expect that Alkermes plc will post 2.39 EPS for the current year.

Alkermes declared that its board has approved a share buyback program on Thursday, February 15th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALKS shares. Robert W. Baird started coverage on Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target for the company. Jefferies Financial Group increased their price target on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. StockNews.com downgraded Alkermes from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. UBS Group lowered shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research report on Tuesday, February 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.38.

Alkermes Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.